Field & Main Bank Acquires Shares of 20,960 Formula Systems (1985) Ltd. $FORTY

Field & Main Bank bought a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,960 shares of the technology company’s stock, valued at approximately $3,072,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd grew its position in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares during the period. Dimensional Fund Advisors LP grew its holdings in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after acquiring an additional 86 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) during the 1st quarter worth $206,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) during the 2nd quarter valued at $73,000. Institutional investors own 34.76% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Formula Systems (1985) currently has an average rating of “Hold”.

Formula Systems (1985) Price Performance

Shares of NASDAQ FORTY opened at $125.72 on Friday. Formula Systems has a 52-week low of $102.01 and a 52-week high of $190.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.66 and a current ratio of 1.48. The stock has a market cap of $1.93 billion, a P/E ratio of 3.16 and a beta of 1.20. The firm has a 50 day moving average price of $110.22 and a 200 day moving average price of $122.29.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings results on Tuesday, August 25th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%. The company had revenue of $782.44 million for the quarter.

Formula Systems (1985) Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 22nd will be issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 22nd. This represents a yield of 259.0%. Formula Systems (1985)’s payout ratio is currently 5.93%.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.